Business
BATM invests in Opticul Diagnostics
BATM invests in Opticul Diagnostics.
About this update from Batm Advanced Communications Ltd.
[{"type":"text","content":"\n \nRNS Number : 0195R BATM Advanced Communications Ld 08 September 2014 \n \n\n8 September 2014\n \nBATM Advanced Communications Limited\n(\"BATM\" or \"the Group\")\n \nBATM invests in In Vitro Diagnostics Device Company, Opticul Diagnostics\nOpticul Diagnostics technology offers specific, sensitive, \"within minutes\" identification of bacteria\n \nBATM Advanced Communications Limited (LSE: BVC; TASE: BATM), a leading provider of real-time technologies for the networked telecoms and medical laboratory equipment markets, is pleased to announce that it has agreed to invest up to $450,000 in in vitro diagnostics device company, Opticul Diagnostics. \n \nHighlights of the Agreement\n· Opticul has developed a revolutionary process for rapid diagnosis, using photonic laser technologies, of micro-organisms based on their outer morphology.\n· The process - applied through the Optidet® device - enables faster, lower cost and more reliable diagnostics compared with all known current technologies.\n· BATM and Opticul will conduct joint R&D, in the U.S. and Israel, to develop and launch the next prototype of Optidet®.\n· Of the agreed investment, $200,000 is being paid upfront in cash and the remainder as milestones are achieved. \n· BATM will own 20% of the issued share capital of Opticul Diagnostics.\n \nBATM and Opticul have cooperated over the last two years, with the Group having built an early prototype of the device. Under the terms of the investment agreement, BATM will continue to conduct joint R&D with Opticul, and will participate in developing and launching the next prototype, which will be presented at the Medica show in Dusseldorf, Germany in November 2014. In addition, BATM has been given exclusive rights to distribute the device in China and Russia. The semi-commercial prototypes are expected to be launched in late 2015, with full commercialisation scheduled for 2016 beginning with the U.S.\n \nBenefits of Optidet®\n· Optidet® is a diagnostics machine able to identify microbes, bacteria and yeast in the clinical laboratory - without the use of reagents. \n· Currently, samples are collected from patients and sent to the clinical laboratory whe...